Rockville , April 19, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global under drive lifting robot market is estimated to be valued at US$ 1.4 billion in 2023 and is expected to expand at an impressive CAGR of 6.3% during the forecast period.
With the recent pandemic accelerated growth, e-commerce industry continues to prove as a lucrative and vital part of future economy. With the growing e-commerce sector, demand for warehouses and distribution centres are also rising. Warehouse owners are focusing on boosting efficiency in warehouses and operational plants, reducing operational costs, and increasing transparency. According to Shopify, a leading e-commerce company, the sales made from online purchases were 17.8%, while it is expected to reach 21% in 2022, and 24.5% in 2025 out of overall sales of goods.
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As per parcel shipping index published by Pitney Bowes, a global shipping and mailing company, in 2019, 103 billion packages were shipped globally and the number is likely to double by 2026. Parcels requires to be transported inside the warehouse number of times before delivering, creating a lot of opportunities for under drive lifting robots.
With expanding e-commerce warehouses, the need for intelligent equipment are also rising to move products from one level to another safely. To keep up with the growth of e-commerce, warehouse operators are increasingly shifting to robotic solutions to improve efficiency and reduce time-to-handle. With more and more facilities increasingly relying on robotics system, under drive lifting robots it is expected to witness a rising demand in the coming years.
Key Takeaways from Market Study
- The global under drive lifting robot market is projected to expand at an impressive CAGR of 6.3% and be valued at US$ 2.7 billion by 2033.
- The market witnessed 4.4% CAGR for the period of 2018-2022.
- Under payload, 200-500 kg segment is predicted to dominate the market and is estimated to be valued at US$ 481 million in 2023.
- The U.S. is expected to dominate the market share in North America by likely accounting for 86.1% of its market share in 2023.
- Sales of under drive lifting robot in logistics & warehouse under end use industry is likely to represent 26.2% market share in 2023.
- Laser guided navigation under drive lifting robot in navigation technology segment is predicted to have a market valuation of US$ 569.6 million in 2023.
“Ongoing Advancements in Robotic Technology is Expected to Aid the Market Growth” says a Fact.MR analyst.
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Key Companies Profiled in this Report
- DEUS ROBOTS
- Conveyco
- Gridbots Technologies Private Limited.
- HÖRMANN Group
- Kaze
- Locus Robotics
- Mobile Industrial Robots A/S
- Scallog
- Shenzhen WellWit Robotics Co., Ltd
- Techmetics Robotics
Market Development
Companies are continuously launching new under drive lifting robots collaborating with existing robotics manufacturers. With increasing number of collaborations and partnerships with leading logistics market leaders, under drive lifting robot market will witness a substantial growth in the near future.
In January 2022, BGV Trident Capital announced the investment of $5 million in Deus Robots a robotic manufacturing start up. The company will utilize the investment to scale up the production of robots for warehouse logistics and expand number of developers in Ukrainian market also focusing on entering into international markets. The company currently provides two types of rack robots. In 2021, Deus Robots manufactured and delivered over 40 robots to customers.
Leading manufacturer of autonomous mobile robots (AMR), Locus Robotics announced their expanded partnership with DHL Supply Chain in September 2022. In June 2022, DHL Supply Chain planned to acquire 2,000 AMR from Locus Robotics. The expanded partnership will deploy robots at DHL facilities to support high volume order fulfilment for global clothing retailer, Carharrt, a DHL customer.
Segmentation of Under Drive Lifting Robot Industry Research Report
- By Payload :
- Up to 200 kg
- 200-500 kg
- 500-1000 kg
- Above 1000 kg
- By Navigation Technology :
- Laser Guided Navigation
- Magnetic Navigation
- Magnetic Tape Navigation
- Magnetic Spot Navigation
- LiDAR SLAM Navigation
- Vision Navigation
- Combination (Multi Tech)
- By Speed :
- Up to 1 m/s
- 1- 2 m/s
- Above 2 m/s
- By End Use Industry :
- Aerospace & Defense
- Automotive
- Discrete Manufacturing
- Electronics & Semiconductor
- Food & Beverage
- Healthcare
- Logistics & Warehouse
- Packaging
- Paper & Printing
- Retail e-Commerce
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global under drive lifting robot market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of payload (up to 200 kg, 200, 500 kg, 500-1000 kg, above 1000 kg), navigation technology (laser guided navigation, magnetic navigation (magnetic tape navigation, magnetic spot navigation), LiDAR SLAM Navigation, vision navigation, combination (multi tech), speed (up to 1 m/s, 1- 2 m/s, above 2 m/s), end use industry (aerospace & defense, automotive, discrete manufacturing, electronics & semiconductor, food & beverage, healthcare, logistics & warehouse, packaging, paper & printing, retail e-commerce, others) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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